Get Au Ing Bank Ingd Oe00018 2017-2025

The executor may also be a beneficiary of the Will, though he or she must treat all beneficiaries fairly and in accordance with the provisions of the Will. The duties of an independent executor are those of a trustee. He holds property interests, not his own, for the benefit of others.

When someone is named as the executor of a will they become responsible for performing a series of duties in order to complete the probate process. If you have more than one executor, then these co-executors must perform all these duties together.

MYTH: An heir cannot sell his or her interest in heirs property without the consent of the other heirs. FACT: An heir can sell his or her interest in heirs property to any non-family or family member and does not need the consent of any other heir.

Since the heirs own the real estate when the decedent dies, all the heirs must join in selling the property, including signing the real estate contract, deed of sale and other documents incidental to a sales transaction.

Unless the will explicitly states otherwise, inheriting a house with siblings means that ownership of the property is distributed equally. The siblings can negotiate whether the house will be sold and the profits divided, whether one will buy out the others' shares, or whether ownership will continue to be shared.

As an executor, you will have a duty to ensure that you are selling the property for the best possible price, for the benefit of the estate. For example, you must not sell the property at an undervalue to yourself, a member of your family, or indeed to one of the beneficiaries in the will.

Co-executors are legally required to work together It isn't legally possible for one of the co-executors to act without the knowledge or approval of the others. Co-executors will need to work together to deal with the estate of the person who has died.

Can I serve as independent executor without an attorney representing me? Probably not. Most courts will not allow a person to act in a fiduciary capacity without an attorney.

The executor can sell property without getting all of the beneficiaries to approve. However, notice will be sent to all the beneficiaries so that they know of the sale but they don't have to approve of the sale.